Asahi Kasei Fibers Corporation (AKF) of Osaka, Japan, and Lanxess signed a Memorandum of Understanding for the purchase of the Dorlastan® business. The final agreement is expected to be signed shortly for an undisclosed sum and will include the Dorlastan® production facilities at Bushy Park, South Carolina and Dormagen, Germany. However, the transaction will be subject to the approval of the relevant antitrust
|
| authorities. The proposed sale, which is part of the global restructuring initiatives that Lanxess announced in June 2005, will mark the company’s first portfolio adjustment.
The Dorlastan® Fibers business has been suffering for many years from the migration of textile markets to Asia. On the other hand, acquisition of the Dorlastan® business will enable Asahi to strengthen its position as a major manufacturer of synthetic elastic fibers and expand its geographical presence. 
|
|
